November 3, 2008

All Nippon Airways H1 Net Profit Decreases 79%

All Nippon Airways has reported a net profit of JPY22 billion in the first half of fiscal year 2008, a decrease of 79.1%, compared to JPY105.5 billion in the same period of fiscal year 2007.

The airline has reported an operating profit of JPY49.8 billion in the first half of fiscal year 2008, compared to JPY67 billion in the first half of fiscal year 2007.

All Nippon Airways has reported revenue of JPY753.3 billion in the first half of fiscal year 2008, a 1.3% decrease, compared to JPY763.2 billion in the first half of fiscal year 2007.

Tomohiro Hidema, executive vice president of finance at All Nippon Airways, said: "These midterm results reflect the challenging operating environment in which we find ourselves. Beyond the price of oil, which hit historic highs and sent our fuel bill soaring for most of the period under review, we are faced at home with softening overall demand and increased competition from other airlines and the railways."